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Workers & Retirees

When supplements are guaranteed - Pellet Hourly

Portions of Supplemental / Add-On benefits are guaranteed in the following situations:

  1. Add-on benefits payable for Permanent Incapacity Retirement are guaranteed by PBGC;
  2. Part of the add-on benefit is guaranteed for any month that your lifetime benefit was reduced by the plan provisions;
  3. For participants who either 1) retired more than 3 years before the date the plan ended or 2) could have retired 3 years before the plan ended, plan assets fund part of their add-on benefit. So, even though the add-on benefit was not guaranteed, part of the add-on is payable from the plan assets.

PBGC follows rules set by law when determining how to distribute the assets of a terminated plan.